Task-1

A.C. 1.1- Position in the market

One of the well-reputed multinational investment of United Kingdom, Barclays is known for its qualitative financial services and it’s deliberately deals within the banking sector. Its offered services include corporative banking, retail banking, investment and as well as financial management. As per according to the reports, it has found that in the banking sector of United Kingdom, Barclays PLC holds 18th position in its relative industry. But, on the same side it is claimed that in terms of technological implementation it is one of the leading bank within its relative sector. Also, Barclays possesses a global presence which is considered as a major asset of the company and supports the organization to take benefits from the strong economic scale while expanding the risk. However, in technology the bank is leading its position in the banking sector and the researchers have found that the executives has signed a petition of collaboration with the leading open payment company, PayPal in sequence, to offer its customers a facility of digital wallet (Barclays, 2016).

The designed strategy of bank on which it operates is initiated on the objective to deliver consistent yet strong return, through developing on the power i.e. intercontinental customer and wholesale bank, with the maximum international reach. This objective is to assure that the organization is strong transversely the economic cycle, by being enough expanded in terms of the business and as well as in terms of geography (Thomas, 2016). The targeted objective of the company is to create several yet valuable opportunities to enhance. The company is based on the opportunity developers which work under one platform to support people in action to rise and grow. Corporative code of conducts of Barclays outlines the values and as well as behaviors which administer the way of initiating business all across the globe.

A.C. 1.2- Change opportunity for Barclays

The change opportunity refers to the arrangement or stages of activities that a change management team or the leaders of the businesses aim to apply in action, to drive the productivity within the organization or to confront the occurred issues while implementing effective strategies. Particularly in the Barclays, the issues have found majorly in the HRM practices and the retention rate has also measured high, this means that the switching rate of the employees at selected bank is way more than the expectations. Barclays PLC acquires a global network of approximately more than a hundred or almost 55 thousands of people are working transversely which makes it difficult for the HR team of Barclays, to sustain their practices. In this varied and world widely based company, the experts of HR department communicate with all business units to help Barclays to sustain the competition by attracting new talent and to retain the best people obtainable and assure that they each of them are in the right jobs and to perform the qualitative yet productive outcome that could create sustainable benefit for the exertions, customers and stockholders, all around the world (NJERI, 2018).

But, to implement the change opportunity, it is not the recruitment process only which needs to be focused but, developing strong employee relations is equally important for the Barclay’s management to overcome the occurred problems. However, the change opportunity shows enough probability in both, recruitment process and employee relations. To give tough competition to the rivalries, Barclays need to focus on its HRM problems which could eventually impact on the performance of the employees and can also affect on the corporative image of the bank. Thus, HR practices of bank need to be changed or improved which could help the organization to achieve its objective more productively and to stay in the tough completion with its rivalries. The change process could be bringing in by developing new strategies which could work effectively and could help the employees to have more satisfied employee experience (Chaamwe and Lulembo, 2016). The strategies could be implied in terms of providing bonuses to the employees, performance appraisals, employee recognition or any other tactics which give more chances to employees to stay in the organization and decreases the retention rate.

Task 2

A.C. 1.3- Kotter’s theory of change process

According to the presented theory of Kotter, the change could be occurred to inspire via aesthetics of using sense of urgency for a change and to sustain the momentum. This theory could be utilized to huge impact to adapt a business to the recent business environment. However, theory of Kotter within the particular scenario could be used to bring change in the following manner:

• Unified maintenance: This involves the sustenance of the workforce of the company. To communicate the change first, HR team need to work on developing the system of communication which could help the company to operate in an incorporated manner. It might also revolve around, initiating secured worker management relations (ESCOBA-DONKOR, 2018). The maintenance to worker-management relation principally involves; managing the problems associated with misconducts, treating each employee equally or providing training to employee for the diverse employee relations.

• Performance appraisals: This could be communicated by assisting employees with the feedback of their work. Analyzing both; positive and negative feedback on the basis of performance. This particular tactic is considered as highly important because it help in making it clear that which individual is in position to receive promotion or which one need to improve. Also, performance appraisals help in identifying the problems which an employee is confronting in the work process or even if there is anything related to the work environment, creating issues for the worker (Presbitero, 2017).

• Reward strategy: This system is particularly managed by the HR department in which the company provide reward to the employees for the month performance. It includes incentives or other employee benefits which could be provided to the workers also, it covers the disciplinary aspects based on which the performance of an individual is evaluated. Rewards help individuals to feel motivated and appreciated for the exerted efforts (Ganapathy, and Ashokkumar, 2017). It is said that the practice of rewarding employees helps in increasing the competition and work in making work environment more productive.

• Employee development opportunities: Development opportunities plays crucial role in the organization’s success. The more employees will have development opportunities, the more they will engage with the organization’s objectives. This might include different training sessions which could work effectively for the employees and can help them to integrate the acquired session’s knowledge in their work practices. Apart from this, some of the important training and development sessions like guiding employees about the upcoming relative technology before implementing it, makes it easy for the workers to work efficiently with the integration of the applied strategy.

All of the initiated strategies are considered as the building blocks for the employee satisfaction as, the mentioned tactics help in encouraging the employees also, it make them aware that their performance is being evaluated and this way, everyone works at optimum level to give 100% and to put all efforts in action, to give valuable outcomes. Apart from the mentioned strategies, providing enough working facilities and bonuses which the rivalries are providing could work perfectly for the organization and through this, the objectives of the organization along with the satisfaction of the employees could be achieved (Pavlov, et al., 2017).

Task 3

A.C. 2.1- Impact of change process on individuals

Introducing new HR strategies in Barclays could mark a highly positive impact on the individuals as, it has found that due to the huge workforce, HR department is unable to maintain productive work environment for each one (Matolo, et al., 2019). Thus, facilitating employees with the performance appraisals, monthly rewards, training and development and providing other effective facilities could work positively for the employees. The reports found that the retention rate of Barclays is comparatively high than its rivalries and the detection of report revealed that the major cause of the high retention rate are the unorganized practices of HR.

Apart from this, training could become a source of increasing the competitive advantage, particularly for the employees. The major benefit which the training and development offers is the improved skills and information to the workers, which could be later translated into the enhanced productivity (Matolo, et al., 2019). Also, it offers employee recognition and make each one feel important worthy. This also help in creating a valuable bond in between the employees and the organization. The strong connection in between the organization and employees result in creating loyal relation and help the workers to get engaged with the business (Singh, et al., 2019). On the whole, implementing mentioned practices in the HR strategies could work effectively for the employees and help them to show more involvement in the organization while being satisfied with the work environment. In line with this, reward culture also works efficiently in promoting teamwork culture and it eventually increases the competition internally, for the employees.

A.C. 2.2- Impact of change in stakeholders

In action, to provide the valuable for the line managers and other stakeholders, HR department will work on the integration of the strategies which could work effectively for the stakeholders as well. This is why, initiating the strategies like rewards, performance appraisals, and training sessions will work beneficially for the stakeholders too. Exposing these strategies in the HR practices will help the executives to make teams work more enthusiastically and will help the stakeholders to take maximum benefits from the employees, by encouraging them to implement the acquired skills in their work procedures. This could help the stakeholders to create a valuable bond with the employees.

It is said that the role of HR contributes in handling and delivering the information which also help in managing the external customers which result in impacting on the owners and shareholders. HR department aim to apply the mentioned strategies in action, to create value for the organization and it will make a positive impact on the stakeholder’s position as well. Also, stakeholders will be responsible to manage the flow of information which help in initiating a good communication bond with the employees. This could result in making a trustworthy bond in between the stakeholders and employees and would also make it easy for them to motivate individuals to show more dedication for the work.

Task 4

A.C. 2.3- Impact of change on achievement of organization’s objectives

The human resource management plays a crucial role in the organization and in the achievement of its goals. The way it implements the strategies make an equal impact in the success of the organization. From retaining employees to providing satisfied work environment, each role of HR counts in the success of the businesses. Thus, to evaluate what impact the suggested change process could make for Barclays, the analysis has been conducted.
The biggest impact that will be measured in the objective of Barclay’s is that it has goal to provide enough opportunities to individuals. By providing enough competitive and productive environment and by enduring employees with the opportunity to grow and learn within the work environment will help the company to work on decreasing its employee retention rate. Also, it can help Barclays to attract new talents in the organization and to provide each one enough opportunity to grow within the organization. It is said that the employee recognition plays an important role in making retaining the employees and initiating strong relation with the workers. Thus, bringing changes such as, introducing monthly reward policy, initiating performance appraisals, or offering more chances to employees to grow and expand business could work effectively and can help company to engage employees more enthusiastically (Chapman, et al., 2018).

Apart from this, another way which could assist Barclays in the achievement of objectives through implementing change is that, when the needs of employees are fulfilled accordingly and when they are treated fully with satisfied services, the workers eventually become more concentrated on the acquisition of the organization’s objectives. Also, the performance of the employees also matter in acquiring a reputed position in the relative industry. Creating a good organizational image can support Barclays to take top position in the banking industry. However, the same reputed image can help in attracting new talents as well.

Also, strong collaboration in between the team members and the higher management works effectively as, it makes the communication flow strong and reduces the chances of conflicts in between the employees or executives. Besides this, the more retention rate will be reduced, Barclays could move towards cost efficiency more rapidly. On the whole, this could be stated that the effective strategic human resource management works as an asset for the retention and the quality of workers. When employees feel valued they eventually get more engaged with the company and its objectives (Wen, 2019).

Task 5

A.C. 3.1- Securing support for the change process from senior management

In action to secure the support for the change process, it is necessary to take all the staff members of senior management in the consideration and to take consent of each one regarding the implemented strategies. Also, by sharing benefits of the established strategies and through communicating the fact that it will help in creating a valuable bond with the employees, the support for the change could be secured. Apart from this, taking the suggestions of senior management and by understanding that at what extent they expect a change could also help in molding the developed strategies accordingly. Discussing an entire plan which might include the framework from present to future and assuring the executives that the implemented tactics will result beneficially for both; shareholders and employees and will eventually give advantage to organization as well (Maina, 2017). In line with this, defining the effective plan of action for the implementation of the strategies could work effectively too.

A.C. 3.2- How individuals will be supported during change process

To support the change process for the individuals, all individuals will be acknowledged about the developed HR policies but, before this a session will be conduct where each individual, however in this the individuals of higher management will be involved. All employees who are working at managerial level will share the issues that are being confronted by their team members. After this, the plan of action along with the initiated strategies will be shared with the individuals and the feedback regarding the plan will be conducted to assure that all of the individuals are in the agreement for the implementation of the plan. However, besides of the plan the advantages of implementing the initiated plan will also be communication so that everyone could understand the need of applying the develop strategies. Also, all individuals of the company will be assured that the implementation will be conducted equally for everyone and the results will be as exact as the expectations. Apart from this, all individuals will also be supported by acknowledging each one to meet the criteria of evaluation or the aspect on the basis of which the evaluation process for the rewards, performance appraisals or the growth opportunities will be provided (Barton, et al., 2016).

A.C. 3.3- Plan to implement and monitor change process

This action will implement and monitor for 2 months, to ensure and to measure the outcomes of its implementation. For the implementation, the senior management of the organization will be provided with the evaluation forms in which there will be different categories based on the punctuality, devotedness, productivity, team work, and communication skills which might comprise the attitude as well. However, this will be informed to all the individuals (Higher management) via email and the delivery of form will be made via email .as well. This will be the long-term change and will last for a year or so. After this, all executives will be responsible to fill the form individually for each member. Besides this, different training sessions will be conducted for which experts will be invited to conduct trainings sessions for the growth and development of the employees. For training sessions, it has been decided that there will be two sessions provided each year. However, these sessions will be for minimum four days or in other case it might extend till one week. For training, specifically higher management, from the branches of single country will be collaborated at one venue. Also, for the reward a certain amount for different categories will be decided and each one will be rewarded right according to the performance. This way the plan will be implemented and to monitor its result, the two months evaluation forms will be considered in which the bonus points of each individual and its decrement or improvement will be analyzed. Also, the productivity of the employees will be evaluated after the training sessions it will be analyzed whether the sessions are resulting in practical implementation or not. The plan will be monitored for complete two months so that it would be identified whether it is working effectively or either employees are being motivated through the implemented strategies (Chang, 2016). As, the major purpose is to make all employees fully satisfied, to decrease the retention rate and to make employees more devoted towards the achievement of the organizational goals.

A.C. 3.4- Outcome of the change process

As per according to the estimated probability, the outcomes of the change process will be highly positive as, it has found that the HR management practices particularly in the Barclays are not much effective which are resulting in the increment of the rate of retention this is why, implementing the strategies which could work in making the employees satisfied and can help in making them feel important will definitely work productively for the individuals and for the organization. Apart from this, it will also help in developing a competitive work environment which will consequent in giving rivalries a tough competition as till now, Barclays’ biggest weakness which is being considered particularly in the banking sector is the problem that its employee retention rate is relatively high from the competitors which eventually impacts on the image of the organization.

However, the action plan will help in implementing the initiated strategies rapidly and would assist in acquiring the results instantly. Since, Barclays is known for its technological integration within the banking sectors thus, providing training sessions could work in adapting the technology more rapidly for the individuals and this help them personal recognition along with the growth opportunity. As, the firms’ objective is to create opportunities and to make each one rise therefore, the initiated action plan could not only work in making employees satisfied but, it will work in achieving the organizational objective too. However, suggested tactics are set accordingly with a particular timeframe so that the effectiveness of each one could be evaluated accordingly. In case of acquisition of productive results, these techniques and its timeframe could be extended.

References

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